Pickaboo raised $1.5M in Pre-series A round led by IDLC Venture Capital Fund

Pickaboo, the first-of-its-kind hybrid - digital and offline - e-commerce platform specializing in selling Electronic Appliances, Mobile phones, and gadgets, in Bangladesh, raised $1.5 million in the Pre-Series A round of financing led by IDLC Venture Capital Fund I. Startup Bangladesh Limited, the flagship venture capital fund of the Bangladesh Government's ICT Ministry, Sr Infin and Gero, renowned global investors in tech startups, were the other participants of this round.

Pickaboo, founded in 2016 as a mobile phone and gadget-focused e-commerce marketplace, has transitioned into the first omnichannel mobile and electronic appliance e-commerce startup of Bangladesh. With a customer-focused approach, the platform enables customers to shop online or offline and empowers traditional retailers to set up multi-branded smart gadget shops under the Pickaboo brand name.

"Pickaboo is redefining the mobile, gadgets, and electronics retail sector through an online and offline model. Lightning-fast deliveries of authentic products with flexible payment methods make our presence strategically unique and sustainable. Pickaboo plans to continue to become the largest omni-channel platform in the category of Electronics-Appliances and Mobile.'', said Morin Hossain Talukder, Co-founder & CEO, Pickaboo.

In a market dominated by fake products and unreliable service, Pickaboo has won the hearts of millions of consumers, and appliance brands by relentlessly focussing on lightning fast deliveries of only authentic products with flexible and secure payment methods. Pickaboo ensures same-day delivery in Dhaka City and nationwide next-day delivery enabled by its real-time back-end order management technology. The company currently offers products with a manufacturer's warranty at the best prices with multiple payment options that include the most affordable EMI options.

Samad N Miraly, Partner, IDLC Venture Capital Fund I, said, "Pickaboo has the operational excellence and data-driven insights to be a dominant player in e-commerce in Bangladesh."

He added, "Bangladesh as a country is continuing to progress at a fast clip, and we believe the consumer will be able to take advantage of a strong e-commerce infrastructure for years to come. We are more than happy to support Pickaboo in that journey."

This fresh new round of funding will enable Pickaboo to continue to be the largest omnichannel platform in the Electronic Appliance and Mobile phone category by further improving the user experience of its customers. They also aim to scale up the business by developing technologically, offline stores expansion, new category inclusion along with expanding the team.

Pickaboo is currently working with over 300 major mobile and electronics brands, such as Samsung, Apple, Xiaomi, Redmi, Infinix, Tecno, and Haier. This service focused and customer oriented ecommerce platform acquired more than a million registered users who can shop conveniently online and offline over the years. The combined online-offline operation has strengthened Pickaboo's overall demand aggregation, day by day.